How to get a Santander Edge Saver without using the current account

wallofbeans

Hi All,

I'm looking to get the Santander Edge Saver and adding 4k for the 6%. I see that I need an Edge current account do it. But I already have a Santander 123 Lite account and think I am better off keeping that for the cashback.

Can I open an Edge current account, get the £30 Amazon voucher via the MSE link, and then put nothing at all in it and just use the Saver? 

It looks like I can open a second Santander account this way, and avoid the £3 fee by never setting up any DD's, but I'm unsure if I need to pay any money into the account to keep the saver alive, or if I will still get the £30 Amazon voucher if I don't set up DDs etc.

Any advice on this? 

ColdIron

I opened mine August 2023, put £3 in 'just in case', withdrew it shortly after and that is the only activity it's ever had. If you don't set up DDs or pay in the £500 you will not be charged the fee. Many many people on these boards do the same

I'm on my second Edge Saver now and use my 123 Lite for cashback. No idea about the Amazon voucher

grumpy_codger

Yes,  you can. Not sure about the voucher - check yourself: 
https://rewards.vouchersent.com/FOD/Reward/Registration?key=1F205127-41EB-40C8-AB05-88ACD1525C59&UID=f272f43a-8208-471d-a07a-895e8d874d92

You can pay money into the account, but you don't have to.

danny13579

You don't ever need to use the current account.

The Amazon gift card just requires opening one of the qualifying accounts.

wallofbeans

Great. Thanks all!

So just to clarify I'm better off not paying in £500 a month? If I do, then that might trigger the fee? 

wallofbeans

danny13579 said:

You don't ever need to use the current account.

The Amazon gift card just requires opening one of the qualifying accounts.

P.S. The Amazon gift card offer ended 7th April.

MSE says it ends Sunday, is that wrong?

danny13579

wallofbeans said:

danny13579 said:

You don't ever need to use the current account.

The Amazon gift card just requires opening one of the qualifying accounts.

P.S. The Amazon gift card offer ended 7th April.

MSE says it ends Sunday, is that wrong?

Sorry, began 7th April. I edited the post to remove that line but you were too quick! 

danny13579

wallofbeans said:

Great. Thanks all!

So just to clarify I'm better off not paying in £500 a month? If I do, then that might trigger the fee? 

To trigger the fee you need to deposit £500+ in a month (month starts on the date you open account) and have 2 active direct debits set up. 

20122013

From 9/6/25 the rate on my account will dropped from 4.5% to 4%, Can I close my account now and open a new one for the 6% rate? Also, I have been paying the £3 mthly fee, is there a way to get around that?

Middle_of_the_Road

20122013 said:

From 9/6/25 the rate on my account will dropped from 4.5% to 4%, Can I close my account now and open a new one for the 6% rate? Also, I have been paying the £3 mthly fee, is there a way to get around that?

You will still get the 6% intil your year is up. Then it will drop to the 4% instead of 4.5%. Then you can close it and open a new one at whatever the current rate is.
To avoid the fee, you would need to close the current account, and open a new one, but without setting up direct debits.

Edit: typo

huw01

I have a 123 account and an edge current account, I've never setup DDs on the edge current account to avoid the monthly fee.

I also have had the edge saver when it was 7% and now at 6%.

I do however use the edge debit card when abroad as its fee free purchases and atm withdrawals worldwide which the 123 isn't.